EUR/JPY
EUR/JPY made a bearish close yesterday but it is a neutral situation. The pair closed inside its previous candlestick’s range. At the current time, the pair looks trading upward and will attempt to break out higher. If the pair could break out higher and print a new higher swing high then the bullish trend will continue. On the lower side, as long as there is no new lower swing low printed on the chart, the pair could continue the bullish trend.
Today’s critical levels to watch:
Support: 167.14, 165.81, 163.00, 162.00, 160.00
Resistance: 170.00, 171.51
EUR/GBP
EUR/GBP turned lower again yesterday and might resume the bearish movement to retest the 0.8400 support level. As mentioned before, the current upward movement is a bullish corrective movement only and traders will wait for short positions chance. On the upside, if the bullish correction continues then the 0.8500 – 0.8530 is the area to watch as a place to enter short positions.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8500, 0.8530, 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY has not shown any sign of weakness and the pair will continue the upward movement. Traders could only await for a bearish correction toward the 200.00 and 198.00 handles. When the pair turn lower and test the support level, traders will wait for bullish reactions. Strong bullish reactions will give the signal for traders to add long positions. However, if the pair formed a new lower swing low then the trend might turn bearish.
Today’s Critical level to watch:
Support: 200.00, 198.00, 193.50, 190.00
Resistance: –
GBP/CHF
GBP/CHF has reached the green box area and is set to test it. If the pair formed a major bearish reaction from the area then traders could enter short positions expecting the continuation of bearish movement. On the lower side, a close below 1.1200 and a new lower low will confirm the continuation of a long-term bearish trend. On the upside, a close above the green box area will open the chance for the pair to turn bullish.
Today’s critical levels to watch:
Support: 1.1225, 1.1200
Resistance: 1.1360, 1.1530, 1.1600, 1.1750